adrianc
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Post by adrianc on Feb 10, 2016 14:41:52 GMT
Nobody knows until the pre-fund is closed on go-live, because nobody knows how much is being committed. The one thing we CAN say with certainty is that there's £7m of funding being asked for, more than double the largest pre-funded loan to date, and SS's largest loan to date (if you view the four tranches as one) - so it's really rather unlikely to be massively over-subscribed. Even just one tranche would probably not be heavily over-subscribed. Don't forget though we have had a few loans repaid in the last week or so and I doubt if all that money has been reinvested yet. True - and let's not forget that the recent pair of launches were slightly lower than the total of Feb 1st's interest repayments... Even so, I can't see £7m being swallowed easily. It's over 10% of the entire loan book...
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mikes1531
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Post by mikes1531 on Feb 10, 2016 14:46:50 GMT
So SS are running short of cash to fund? Sorry what does this mean? Of course we are not short of cash. Just you wait until our accounts are finalised!!  : I think paul123 reached that conclusion based on what you said in the OP... We are going to recommend that you start sending your funds over to keep on your account at SS as soon as possible so that we have the funds to complete on Tuesday morning... I read that to mean SS couldn't complete without receiving lenders' funds first. Not that I'm surprised, as it would be a rare company that would have £7M sitting idle. Can you please clarify a few things, though... - All four loans will be going live at the same time?
- All four bits of land are in the same general location? (Three of the maps show a location in/near Biggleswade. The map for Tranche B shows a completely different location, probably somewhere in Cambridgeshire.)
- Presuming all four tranches are going live at once, is there any reason to invest in any one particular tranche in preference to another? Or would we be better off spreading our investment over all four tranches?
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 10, 2016 14:48:17 GMT
Hi Everyone, Just to keep you all in the loop, we will be issuing the 48 hours notice before we go live with a number of loans very soon i.e tmrw afternoon. We are hoping to receive the valuation documents for all 4 tranches of the farmland in Bedfordshire TOMORROW which we will put up as soon as they arrive with us for your perusal. We will then allocate loan parts on Saturday with the intention of completing on the loan on Tuesday. We are going to recommend that you start sending your funds over to keep on your account at SS as soon as possible so that we have the funds to complete on Tuesday morning please as the banking system is a trifle frustrating over the weekends! You won't be investing in this loan until the val docs and the parts are updated. Thanks for investing with Saving Stream. I don't think that in the two pages since savingstream posted has anybody thanked SS for going out their way and posting an update for us  . This is new, and simply unnecessary since we’ll no doubt get the update in an e-mail; they have done it simply to keep us in the loop. So thank you SS! A nice week to look forward to ! And keep up the good work  !
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oldgrumpy
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Post by oldgrumpy on Feb 10, 2016 15:11:30 GMT
All four bits of land are in the same general location? (Three of the maps show a location in/near Biggleswade. The map for Tranche B shows a completely different location, probably somewhere in Cambridgeshire.)
Yes, why is the location map given as fields near Linton? That's nearly as far away (c26 miles) as the fictitious Bedfordshire Farmland pictures shown.  I hadn't even looked at the maps after we established the photo IDs. That really is a very "dodgy" page, SS!
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Post by highlandtiger on Feb 10, 2016 15:21:34 GMT
Hi Everyone, Just to keep you all in the loop, we will be issuing the 48 hours notice before we go live with a number of loans very soon i.e tmrw afternoon. We are hoping to receive the valuation documents for all 4 tranches of the farmland in Bedfordshire TOMORROW which we will put up as soon as they arrive with us for your perusal. We will then allocate loan parts on Saturday with the intention of completing on the loan on Tuesday. We are going to recommend that you start sending your funds over to keep on your account at SS as soon as possible so that we have the funds to complete on Tuesday morning please as the banking system is a trifle frustrating over the weekends! You won't be investing in this loan until the val docs and the parts are updated. Thanks for investing with Saving Stream. I don't think that in the two pages since savingstream posted has anybody thanked SS for going out their way and posting an update for us . This is new, and simply unnecessary since we’ll no doubt get the update in an e-mail; they have done it simply to keep us in the loop. So thank you SS! A nice week to look forward to ! And keep up the good work ! I did press the thumbs up button on their initial post. Does that count
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Post by highlandtiger on Feb 10, 2016 15:23:32 GMT
All four bits of land are in the same general location? (Three of the maps show a location in/near Biggleswade. The map for Tranche B shows a completely different location, probably somewhere in Cambridgeshire.)
Yes, why is the location map given as fields near Linton? That's nearly as far away (c26 miles) as the fictitious Bedfordshire Farmland pictures shown. I hadn't even looked at the maps after we established the photo IDs. That really is a very "dodgy" page, SS! If you've seen one field you've seen them all. I mean is anyone going to base their investments on how nice a field looks.
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oldgrumpy
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Post by oldgrumpy on Feb 10, 2016 15:26:40 GMT
No one. They'll be too busy working through the inaccuracies of the information given, and wondering about the reliability of the rest of the platform's operation.
It matters.
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mikes1531
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Post by mikes1531 on Feb 10, 2016 16:20:16 GMT
... let's not forget that the recent pair of launches were slightly lower than the total of Feb 1st's interest repayments... : How did you come to that conclusion? The total of the Live loans seems to be £61.15M without the recent pair. 1% of that is £611.5k, and the total of the two recent loans is £734k. What am I missing?
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adrianc
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Post by adrianc on Feb 10, 2016 16:21:36 GMT
No, you're right. It's me that was thinking they were lower than that. I'm going back to bed.
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mikes1531
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Post by mikes1531 on Feb 10, 2016 16:35:12 GMT
If all four of these loans go live at once, ISTM that overfunding in total will be unlikely. So I'm setting my pre-funding on the assumption that I'll be allocated all that I request.
The potential spanner in the works is that the pre-funding requests might be unequally distributed between the four tranches, so some tranches could be overfunded even if the total loan isn't.
I'd guess that the best approach would be to spread one's pre-funding equally among the four tranches.
Any thoughts, anyone?
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ben
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Post by ben on Feb 10, 2016 16:41:41 GMT
If all four of these loans go live at once, ISTM that overfunding in total will be unlikely. So I'm setting my pre-funding on the assumption that I'll be allocated all that I request. The potential spanner in the works is that the pre-funding requests might be unequally distributed between the four tranches, so some tranches could be overfunded even if the total loan isn't. I'd guess that the best approach would be to spread one's pre-funding equally among the four tranches. Any thoughts, anyone? Surely the idea of having different tranches is that money is released as needed not all at once so cheaper for the borrower, they may need 7 million in total but they do not need all on Saturday, otherwise why not just list it as one loan as it will make prefunding a nightmare. 4 different loans if you divide what you want to invest by 4 and split it that way on one trance you might get everything on another you might get 10% due to others putting everything they want into one loan. Also in case of void which tranche has priority?
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locutus
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Post by locutus on Feb 10, 2016 16:43:00 GMT
If all four of these loans go live at once, ISTM that overfunding in total will be unlikely. So I'm setting my pre-funding on the assumption that I'll be allocated all that I request. The potential spanner in the works is that the pre-funding requests might be unequally distributed between the four tranches, so some tranches could be overfunded even if the total loan isn't. I'd guess that the best approach would be to spread one's pre-funding equally among the four tranches. Any thoughts, anyone? SS should combine them into one again. If they're launching together, they don't need to be tranched.
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oldgrumpy
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Post by oldgrumpy on Feb 10, 2016 16:47:35 GMT
If all four of these loans go live at once, ISTM that overfunding in total will be unlikely. So I'm setting my pre-funding on the assumption that I'll be allocated all that I request. The potential spanner in the works is that the pre-funding requests might be unequally distributed between the four tranches, so some tranches could be overfunded even if the total loan isn't. I'd guess that the best approach would be to spread one's pre-funding equally among the four tranches. Any thoughts, anyone? DUNNIT! Prefunded all equally just a bit over what I want, then do adjustments later when new-bugs join SS and want some
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Post by jivan on Feb 10, 2016 16:51:30 GMT
No one. They'll be too busy working through the inaccuracies of the information given, and wondering about the reliability of the rest of the platform's operation. It matters. Hmmm. Look, I know how this will probably sound,  but I'm a newbie to SS and stated in my first post a few days ago that I'm a 'refugee' from Thincats, looking to diversify my platform risk. I am attracted to the possibility of earning 12%p.a. on bricks-and-mortar investments and I quite like the 'feel of this platform......BUT i) I'm disappointed that I only got £180 allocation from my first pre-fund bid of £1k (yes, I understand there's been a hiatus of loans coming thru during the holiday period and things are now looking up in terms of loans and loan sizes) ii) The disparity between the two platforms in terms of the amount of info provided on any given loan is HUGE! I've just shoveled several £k's back onto TC so as to be able to make bids on a three-part loan auction at interest rates varying between 11.25%, 11.75% and 13.5%, all with first charge security over land, property and building equipment. The documentation provided to back up the proposal consisted of a 64 page information pack, a 22 page underwriting and valuation pack, an 87 page extract from the Local Planning Authority's development plan, another 16 page valuation report regarding the property and land and a 15 page report from detailing the precise business plan of the borrower. The 64 page pack included detailed balance sheets, Experian credit rating scores over several years and God knows what else!.......far too much information, actually, to digest and not particularly well presented in terms of making it clear which items of security related to which of the 3 loans being sought.......but then there was an opportunity to clarify any areas of uncertainty by asking questions on a 'public' Q&A section of the loan proposal and these questions were answered promptly by the borrower for all to see........quite different from the approach on this platform as far as I can see. iii) Having said all that, one or two of my biggest investments on TC have started to look a little 'dodgy' and I may end up losing several £k's in capital as a result of particular loans going into default and, quite possibly finding that the security that was supposed to back up the loan wasn't as secure as it first appeared. Of course it's a learning curve and I'm not a 'sophisticated investor'.......that is why I value so highly having access to the insights and opinions of other investors, not only on a forum such as this, but in the Q&A section for each loan. OK, that's my twopennyworth. I guess it's partly a case of 'horses for courses' with a pinch of 'better the devil you know' thrown in for good measure. I don't think I'll be making a bid for the upcoming development loans though........so many unanswered questions and lack of information! 
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 10, 2016 16:57:06 GMT
No one. They'll be too busy working through the inaccuracies of the information given, and wondering about the reliability of the rest of the platform's operation. It matters. Hmmm. Look, I know how this will probably sound, but I'm a newbie to SS and stated in my first post a few days ago that I'm a 'refugee' from Thincats, looking to diversify my platform risk. I am attracted to the possibility of earning 12%p.a. on bricks-and-mortar investments and I quite like the 'feel of this platform......BUT i) I'm disappointed that I only got £180 allocation from my first pre-fund bid of £1k (yes, I understand there's been a hiatus of loans coming thru during the holiday period and things are now looking up in terms of loans and loan sizes) ii) The disparity between the two platforms in terms of the amount of info provided on any given loan is HUGE! I've just shoveled several £k's back onto TC so as to be able to make bids on a three-part loan auction at interest rates varying between 11.25%, 11.75% and 13.5%, all with first charge security over land, property and building equipment. The documentation provided to back up the proposal consisted of a 64 page information pack, a 22 page underwriting and valuation pack, an 87 page extract from the Local Planning Authority's development plan, another 16 page valuation report regarding the property and land and a 15 page report from detailing the precise business plan of the borrower. The 64 page pack included detailed balance sheets, Experian credit rating scores over several years and God knows what else!.......far too much information, actually, to digest and not particularly well presented in terms of making it clear which items of security related to which of the 3 loans being sought.......but then there was an opportunity to clarify any areas of uncertainty by asking questions on a 'public' Q&A section of the loan proposal and these questions were answered promptly by the borrower for all to see........quite different from the approach on this platform as far as I can see. iii) Having said all that, one or two of my biggest investments on TC have started to look a little 'dodgy' and I may end up losing several £k's in capital as a result of particular loans going into default and, quite possibly finding that the security that was supposed to back up the loan wasn't as secure as it first appeared. Of course it's a learning curve and I'm not a 'sophisticated investor'.......that is why I value so highly having access to the insights and opinions of other investors, not only on a forum such as this, but in the Q&A section for each loan. OK, that's my twopennyworth. I guess it's partly a case of 'horses for courses' with a pinch of 'better the devil you know' thrown in for good measure. I don't think I'll be making a bid for the upcoming development loans though........so many unanswered questions and lack of information! i) I promise there will be more to nibble at in the coming week. Those loans where tiny; that and people had money at hand from the recent repayments & interest. The next loans are considerably bigger; more to share!. ii) I agree that it would be nice to see more (much more if I had my way!) information for us to do our own DD. However Lendy Ltd are not as big as TC, but are getting bigger and employing more staff; so I’m sure that ‘more information’ is something that they're working on. However remember that Lendy have only had the one default that was sorted with no loss to the investors; so personally i'm happy to accept their own DD to a certain extent. iii) As with the above; I feel more comfy with SS beacuse of thier track record.
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. This is new, and simply unnecessary since we’ll no doubt get the update in an e-mail; they have done it simply to keep us in the loop.
!
but I'm a newbie to SS and stated in my first post a few days ago that I'm a 'refugee' from Thincats, looking to diversify my platform risk. I am attracted to the possibility of earning 12%p.a. on bricks-and-mortar investments and I quite like the 'feel of this platform......BUT